Ah yes, the bi-weekly conferences we have to regulate our prices. Truly a balanced system.
When only two service providers exist in an area, those who provide what, in today's world, amounts to an indispensable service: they call the shots, not the consumer. Water companies could charge ten times what they do now and still keep most of their clientele, because people need water. Do you honestly think that those who pay 25 cents to send 0.33kb of data have a say in that rate?
The free market only works in small, isolated communities. We're nation (and global) wide now, governmental regulation is necessary.